MicroStrategy is back at it again. This time, they’ve purchased 7,420 Bitcoin for around $458.2 million. The purchase was funded through proceeds from their recent debt offering, and it happened between September 13 and 19 at an average Bitcoin price of roughly $61,750.
If you’re wondering why this matters, MicroStrategy, led by Executive Chairman Michael Saylor, has been one of the biggest advocates for Bitcoin in the corporate world. The company started buying Bitcoin in 2020 and has since become the largest corporate holder of BTC. They’ve been using Bitcoin as part of their corporate treasury strategy, meaning they’re holding it as a reserve asset instead of cash.
How Much Bitcoin Does MicroStrategy Hold Now?
With this latest purchase, MicroStrategy now holds a total of 252,220 Bitcoin. At current prices, its holdings are worth almost $16 billion. But what’s even more impressive is how they’ve managed to acquire all this Bitcoin. The company has spent a total of $9.9 billion, with an average purchase price of $39,266 per Bitcoin. That’s some serious long-term thinking. MicroStrategy’s previous Bitcoin purchase was only announced 8 days ago on September 13th, when it added 18,300 Bitcoin to its holdings.
And it doesn’t seem like MicroStrategy is done yet. According to their latest regulatory filing, the company still has $889 million left from their $2 billion equity issuance, meaning they’ve got plenty of cash to buy even more Bitcoin in the near future.
Why Does MicroStrategy Keep Buying Bitcoin?
Michael Saylor and MicroStrategy have made it clear that they see Bitcoin as the future of money and a better way to store value compared to traditional currencies like the US dollar. With inflation concerns and global economic uncertainty, Saylor has said that holding Bitcoin is a smart strategy for protecting wealth over the long term. He also believes that Bitcoin is likely to hit a $13 million valuation per coin by 20245.
Saylor, a prominent speaker on Bitcoin, who regularly appears in mainstream financial media making a case for Bitcoin, recently shared his 21 rules of Bitcoin.
By buying Bitcoin, MicroStrategy isn’t just speculating—it’s betting that Bitcoin will continue to increase in value over time and become an even more important asset. And they’ve put their money where their mouth is, investing billions into BTC while continuing to look for more opportunities to buy.
At the time of writing Bitcoin is moving hands at $63,011 according to CoinMarketCap data.
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